Baa

Baa

A credit rating used by Moody'scredit agency for long-term bonds and some other investments. It is subdivided (in descending order) into Baa1, Baa2, Baa3. A Baa rating is equivalent to the BBB rating range used by Fitch and S&P. A Baa rating represents a relatively low-risk bond or investment; banks are allowed to invest in Baa rated bonds. However, Baa is toward the bottom of investment-grade bond ratings, being only one grade above junk bond ratings. Risk-averse investors must therefore exercise caution in Baa investments, especially if the rating was recently downgraded.

The commission's BAA airport ownership inquiry chairman Christopher Clarke said there were "significant competition problems" arising from BAA's ownership of its seven UK airports which also include Heathrow, Southampton and Aberdeen.

UK Office of Fair Trading that BAA be investigated by the UK's Competition Commission (see story below), Bisignani said, "BAA is fast becoming a nightmare" as charges will increase 50% in the 2003-08 period and another 50% in 2008-13.

A venture to provide a new, live flight and airport information service for mobile phones has been revealed by airport operator BAA, in partnership with Digital Rum, a provider of secure, scaleable mobile solutions.

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